Tag: 2018 | Ferry Shipping News

Color Group AS is expecting to have a profit in 2019 that is down comparable to the figure reported in 2018, because of:

increased oil price

weaker Norwegian currency

delayed delivery of COLOR HYBRID from Ulstein Yard

weaker freight marked than expected.

BOHUS which was out of service due to an extraordinary operational disruption

Settlement in the legal dispute between Nye Kystlink AS and Color Group AS / Color Line AS.

Total cash effect is estimated to approximately NOK -200 mill. (of which approximately NOK -150 effect on results) In 2019.

BOHUS has been sold to a subsidiary company of Northbay Transportes Maritimos LTD, Madeira, Portugal with delivery latest 30 August 2019. The transaction has been guaranteed by the subsidiary company Tnitsea Shipping LTD, Madeira, Portugal. The ship will continue its operations in the Mediterranean, most likely for Red Star Ferries.

Scandlines Maintained Profitability In 2018, With Stable Operations And High Reliability Levels

The group’s two ferry routes completed more than 43,000 departures and transported 7.4 million passengers between Germany and Denmark. Freight traffic increased by 7% and surpassed 700,000 units in 2018.

Key figures (in EUR)

Group Revenue declined 2%: 477 million (487 million). Reason is a slight decline in car traffic and BorderShop visits driven by the unseasonably warm weather in the period from May to September, which dampened Scandinavians’ need to travel South.

Revenue from the two ferry routes was unchanged at 352 million following strong performance in the freight segment and continued progress on the Rostock-Gedser route, compensating for slightly declining leisure traffic on the Puttgarden-Rødby route during the year.

BorderShop revenue declined to 125 million (135 million) due to lower leisure travel and a weakening of the Swedish currency, which reduced Swedish customers’ incentive to visit the group’s BorderShops.

Profitability was maintained in 2018 as Scandlines generated profit from ordinary activities (recurring EBITDA) of 191 million (194 million) corresponding to a stable recurring EBITDA margin of 40% (40%).

While profitability was satisfactory and driven mainly by higher freight volumes and cost control, we are still far from reaching results posted by fixed connections and other infrastructure companies in the region.